Process concept gathers agents’ action and interaction on objects and their associated knowledge, belonging to one of several domains, supported on Transdisciplinary Engineering concepts. An engineering solution is a tangible or intangible object able to satisfy the solution requirements. A solution incorporates knowledge and develops capacities and functionalities in processes of its lifecycle phases. The risk analysis in engineering solutions development is, in general, treated with particular risks frameworks selected or adapted to each project development. Damage risks of an object (solution) correspond to troubles in processes of its life cycle. Our research introduces a framework of generic capacities and another of functionalities of a solution and it uses generic functionalities as risk categories for classifying risks of damages of a solution. The use of knowledge expressed as object’s capacities involving the recognized purposes of each lifecycle’s phase, and object’s functionalities derivate from object’s capacities, constitute a contribution of this paper. In this process-based approach, the disaggregation of risk categories in specific risks aspects coincides with the disaggregation of risks categories in a product-based approach using a cause-effect model for the definition of risk categories. This mutual confirmation of both approaches enables their enhancement and use in any engineering field. The proposed risk analysis model supports the ex-post risk analysis of a collapsed tower of a pre-stressed stayed bridge in the field of civil structures development.